Strategic Hotels & Resorts shareholder may become active

By Lisa Kerner

Charlotte, N.C., Nov. 21 - A group of Strategic Hotels & Resorts, Inc. investors led by Security Capital Research & Management Inc. may engage in discussions with the company's management, board of directors or individual directors concerning the business and strategic direction of the company.

According to a schedule 13D filed with the Securities and Exchange Commission, Security Capital, a 14.1% shareholder, is specifically concerned about:

• Significant current and prospective stress in real estate financing markets;

• Deteriorating operating conditions for lodging assets;

• The precipitous drop in the Chicago-based real estate investment trust's common stock price; and

• The ambiguity surrounding actions and inactions by the company including recent amendments to Strategic Hotels & Resorts' bylaws.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.